Colombia’s central bank likely to pause interest rate hike

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Central Bank interest rate pause for September 30 is likely due to concerns of board members about global economy.

The minutes from Colombia central bank’s August meeting, released Friday, highlight its worries about the global economy, leading analysts to conclude the board will keep its key interest rate stuck at 4.5% for a second straight month when it meets September 30.

The lousy US payrolls report Friday is reinforcing the rate pause forecast. Celfin Capital’s local office in Medellin said Monday it expects a rate hold this month, while over on Wall Street Goldman Sachs went a step further and said the bank will hold rates for “at least a few more months.

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